Crypto market May 29: BTC ~$73K, ETF -$228M, ceasefire

Global crypto market on May 29: Bitcoin holds $73,000 after Thursday's drop, ETF outflows top $228M for 9th straight day, US and Iran near 60-day ceasefire deal

On Friday, May 29, 2026, the crypto market moderately stabilized after Thursday's sharp correction. Bitcoin opened at $73,525.74 and slid to $73,100 during US pre-market hours, with an intraday low of $72,582 - a brief test that triggered a small wave of long-position liquidations before the market recovered to $73,600. Ethereum traded around $2,015-2,040, XRP reclaimed the $1.30 support and traded at $1.32, Solana ranged $80.89-$82.59, and Dogecoin climbed to $0.10. Hyperliquid (HYPE) was Friday's standout - up 8.36% to $45.39, the only top 15 asset with a positive day. US spot Bitcoin ETFs lost another $228 million - the ninth consecutive outflow day with cumulative withdrawals of approximately $2.85 billion across the streak. This is Norriwire's daily review of the global crypto market on May 29 - top 15 coins, stablecoins, NFT, ETF flows and regulatory news.

Market overview

Friday, May 29, followed one of the sharpest single-day corrections of May. Asian markets opened with an improved sentiment tone - the main driver being news that US and Iranian negotiators had largely agreed on a 60-day memorandum of understanding to extend the ceasefire. The MoU stipulates that Iran will open the Strait of Hormuz while the US gradually pulls back its naval blockade over 60 days. Trump has been briefed on the terms but has not formally approved them.

This geopolitical pivot broke Thursday's risk-off flow and helped Bitcoin hold above $73,000 despite continued ETF outflows. Total market cap stabilized at approximately $2.62 trillion on Friday - moderately above Thursday's lows. Bitcoin dominance ticked up to roughly 58-60% as altcoins broadly took heavier losses on a weekly basis.

Friday's 24-hour liquidations were considerably less alarming than Thursday's - approximately $280-320 million, mostly remaining long positions exiting after the Thursday strike. This indicates that the leverage atmosphere has moderately cleansed and market participants are starting a cautious shift toward neutral positioning.

The second major event - US spot Bitcoin ETFs lost another $223-228 million (sources vary). This is the ninth consecutive outflow day, with approximately $2.85 billion withdrawn from the product category across the streak. It is the longest ETF outflow streak since launch in January 2024. However, Friday's $228 million is substantially more moderate than Thursday's $733 million and suggests institutional distribution may be starting to settle.

The major derivatives event Friday was the month-end Bitcoin and Ethereum options expiry. Total notional value was approximately $7.5 billion: BTC options around $4.3 billion, ETH options around $3.2 billion. Max Pain levels for both coins sit above Thursday's spot prices (BTC Max Pain ~$74,500, ETH Max Pain ~$2,100), creating short-term upward pressure on spot at expiry.

Brent crude continued to fall to $92.56 per barrel (-1.2% on the day, -19% on the month). This is meaningful relief for energy-market stability and indirectly reduces global inflation pressure. WTI traded in the $88-89 range.

The Crypto Fear & Greed Index recovered to roughly 28-30 points (Fear zone) - a moderate improvement from Thursday's Extreme Fear region.

Top 15 coins on May 29

Prices compiled from Yahoo Finance, Fortune, Phemex, IndexBox, The Block, crypto.news, Benzinga, CoinDesk, CoinMarketCap, CoinGecko, Coingape and FXStreet publications on May 29.

1. Bitcoin (BTC) ▼ $73,105.71 (-0.5% 24h, stabilization)

BTC opened Friday at $73,525.74 and by 9:15 AM ET had slid to $73,105.71 - down about $354 from Thursday's close. The intraday low was $72,582, a moderate test of the $73,309 horizontal support. After that test, BTC recovered to roughly $73,600. Market cap stabilized near $1.46 trillion.

The key price event - initial news of a 60-day US-Iran ceasefire MoU broke Thursday's risk-off flow. Technical structure moderately improved: the $72,500 level is critical support; losing it would open the path to $70,000-$71,000. Resistance moved up to $74,500 (BTC options Max Pain zone).

On-chain data continues to show accumulation below $73,500. Addresses holding 100-1,000 BTC continue to expand positions - the monthly run-rate is roughly 1,500-1,800 BTC per day. Simultaneously, retail addresses (under 1 BTC) showed the first positive accumulation signal in two weeks on Friday - an early capitulation-and-rebound indicator.

2. Ethereum (ETH) ▼ ~$2,015 (-1.2% 24h)

ETH opened the day at $2,035 and slid to roughly $2,015. Market cap is approximately $222 billion. ETH/BTC ratio dipped slightly to about 0.0276 - BTC showed resilience relative to ETH on Friday.

ETH 24-hour liquidations were approximately $65 million (more moderate than Thursday). Spot Ethereum ETFs lost an additional $4.2 million - a moderate outflow. The ETH options expiry - $3.2 billion notional - created short-term upward pressure, but by US close the price returned below $2,020.

3. Tether (USDT) ◆ $0.9999 (stable)

USDT market cap on May 29 stayed near $189 billion. It retains the 58% segment dominance. Tether USAT (the US-focused stablecoin) reached approximately $140.8 million in circulation at the end of May - a 540% gain from March's $22 million. However, USAT remains a niche product in absolute terms. Peg vs. the dollar is stable.

4. XRP ▲ $1.32 (+3.1% 24h)

XRP reclaimed the $1.30 horizontal support on Friday and traded at $1.32 in the US session. It was the best top 10 asset Friday alongside HYPE. The price broke out of the tight $1.27-$1.29 range and approached the $1.33 resistance in the evening. CoinShares' weekly review notes that XRP institutional flow improved - the first positive weekly flow in the past three weeks. Market cap is approximately $76 billion.

5. USDC ◆ $1.00 (stable)

USDC supply on May 29 stayed near $76 billion. The USDT/USDC ratio in the segment remains approximately 2.5:1. GENIUS Act 100% reserve rules go into effect on July 18 - Circle retains a regulated and institutional edge. Coinbase Custody reports that USDC institutional trading rose 18% in May, reflecting risk-off rotation between BTC and USDC.

6. BNB ▼ ~$605 (-1.5% 24h)

BNB traded in a $600-$615 range Friday - moderately more stable than Thursday. Binance ecosystem activity remains intact, but BNB stays in the red on a weekly basis. Grayscale's BNB Chain analysis continues to flag it as a potential CLARITY Act beneficiary.

7. Solana (SOL) ▼ $81.50 (-1.5% 24h, $80.89-$82.59 range)

SOL traded in an $80.89-$82.59 range Friday. Market cap is approximately $46 billion. Spot Solana ETFs retain moderate positive inflows. SOL/BTC ratio dipped slightly. On a weekly basis, SOL is down about 6.78%, mid-pack among the top 15.

8. Dogecoin (DOGE) ▲ $0.10 (+1.3% 24h)

DOGE reclaimed the $0.10 level on Friday - one of the few top 15 assets with a positive day (+$0.0013). Retail activity partially returned to the buy side. DOGE remains one of the most sensitive top 15 assets to risk-sentiment shifts - when global risk-on resumes, DOGE will be among the first beneficiaries.

9. TRON (TRX) ▼ $0.358 (-0.8% 24h)

TRX traded in a $0.355-$0.361 range Friday. The USDT settlement franchise on TRON remains the key fundamental driver - more than $85 billion of USDT circulates on TRON. TRON is among the most resilient top 10 assets on a weekly basis.

10. Cardano (ADA) ▼ $0.234 (-0.4% 24h)

ADA traded in a $0.232-$0.238 range Friday. Market cap is approximately $8.4 billion. ADA holds 15th place globally by market cap. The Charles Hoskinson budget proposal public consultation continues - the Cardano community is reviewing long-term development spending policy.

11. Hyperliquid (HYPE) ▲ $45.39 (+8.36% 24h)

HYPE was Friday's standout - up 8.36% to $45.39. It is the only top 15 asset with a major day-over-day gain. The main driver - perpetual trading activity on the Hyperliquid DEX spiked due to geopolitical instability, with traders rotating into the platform's native token. Hyperliquid ETFs (issued by BlackRock and Bitwise) recorded inflows for the ninth straight day - opposite to BTC and ETH ETFs. Bitwise's new Hyperliquid ETF, live since early May, has already attracted more than $120 million in new money. HYPE's all-time high remains $64.63 (May 26).

12. SUI ▼ $1.06 (-0.9% 24h)

SUI traded in a $1.04-$1.08 range Friday. On a monthly basis, SUI still posts one of the better top-15 results, but short-term sentiment tracks the broader altcoin pressure.

13. Chainlink (LINK) ▼ $8.52 (-0.4% 24h)

LINK traded in an $8.45-$8.60 range Friday. DeFi oracle infrastructure metrics are stable, but short-term price suffers from risk-off flow. Key technical resistance moved up to the $9.00 zone.

14. Avalanche (AVAX) ▼ $8.38 (-0.5% 24h)

AVAX traded in an $8.32-$8.45 range Friday. On a monthly basis, AVAX remains one of the weakest top 15 assets. Technical resistance moved up to the $9.00 zone.

15. Polkadot (DOT) ▼ $1.23 (-0.8% 24h)

DOT traded in a $1.21-$1.25 range Friday. Monthly metrics continue to oscillate at historic lows. Polkadot 2.0 upgrade milestones continue, but short-term price suffers from broader altcoin pressure.

Stablecoins - segment holds $322 billion, USAT at $140.8 million in circulation

The stablecoin segment on May 29 stayed in the $320-323 billion range (per DefiLlama and CoinDesk). USDT (Tether) dominates at approximately $189 billion and roughly 58% of the segment. USDC (Circle) - approximately $76 billion or 24%. Other players (DAI, FDUSD, PYUSD, USDe, RLUSD and emerging bank-issued stablecoin candidates) total approximately $57-58 billion or 18% of the segment.

The main segment story - Tether USAT (the US-focused stablecoin) reached $140.8 million in circulation in May - a 540% gain from March's $22 million. However, in absolute terms USAT remains a niche product. CoinDesk's May 28 analysis concludes that Circle, Ripple and PayPal continue to dominate the US bank-regulated stablecoin market.

The structural trend reflects a bipolar reality - USDT retains a liquidity edge in spot and perpetual markets (more than $85 billion of USDT circulates on TRON, another $60 billion on Ethereum, and $20 billion on Solana). USDC gains regulated and institutional trust - Coinbase Custody reports a 18% rise in USDC institutional trading in May.

GENIUS Act stablecoin rules take effect on July 18 - by then all dollar-stablecoin issuers must maintain 100% reserves and submit to regular audits. OCC, FDIC, and FinCEN's implementing guidance also includes a sanctions-enforcement mechanism. The stablecoin market cap - $322 billion - now exceeds the FX reserves of 95 countries, including the UK and Canada.

NFT market - CryptoPunks floor at $62,771, NFT volume falling

The NFT segment on May 29 maintained a moderate downtrend. The CryptoPunks floor is approximately $62,771 (~30.7 ETH at Friday's ETH price). It is a substantial drop from the $73,200 level on May 10 and aligns with broader Ethereum-market pressure. CryptoPunks 24-hour trading volume was 55 ETH.

OpenSea retains its lead among all blockchains, while Magic Eden continues to dominate the Solana NFT market. BAYC and MAYC floors also dipped on Friday. The NFT segment's total 24-hour trading volume in May fell 54.89% versus April - reflecting the broader long-term NFT segment crisis. The NFT segment total market cap remains around $1.4 billion.

Polymarket odds for an "NFT revival in 2026" dropped to roughly 62% on Friday - moderately below Thursday's level.

ETF flows - 9th straight outflow day, $2.85 billion total in the streak

On May 29, US spot Bitcoin ETFs lost another $223-228 million - the ninth consecutive outflow day. In total, approximately $2.85 billion has been withdrawn from the product category across the streak. This is the longest ETF outflow streak since launch in January 2024.

BlackRock IBIT lost approximately $95-110 million on Friday - well below Thursday's $527.84 million, signaling that the deepest phase of the main distribution wave may be over. IBIT still manages approximately $58 billion in assets and represents roughly 4% of total Bitcoin supply. IBIT NAV on Friday was approximately $41.30 (YTD decline -16.5%).

Other US spot Bitcoin ETFs also posted losses: Grayscale - approximately $28 million, Fidelity - approximately $42 million, Ark/21Shares - approximately $18 million, Bitwise - approximately $12 million. The outflow is broad-based but vastly more moderate than Thursday.

In the opposite direction is the Hyperliquid ETF (BlackRock and Bitwise products) - ninth consecutive inflow day. Bitwise's new Hyperliquid ETF, live since early May, has attracted more than $120 million of new money this month. It is the only crypto ETF segment that retains a positive month-to-date flow.

Spot Solana ETFs retain moderate positive inflows. Spot Ethereum ETFs lost an additional $4.2 million - a moderate outflow. CoinShares' weekly review notes that digital-asset products received $857.9 million of inflows last week, with Bitcoin leading and participation broadening into Ethereum, Solana, and XRP products.

Privacy coins - Zcash consolidates, Monero with moderate gains

The privacy coin segment on May 29 retained institutional interest. Zcash (ZEC) consolidation continues above the $500 level - the $600 peak is still behind. Grayscale's May 12 S-3 filing for a Zcash spot ETF (ticker ZCSH) on NYSE Arca remains the awaited regulatory event - it would be the first privacy-coin spot ETF in US history.

Monero (XMR) FCMP++ beta continues to mature. Due to Monero's mandatory privacy architecture, a Monero ETF remains unlikely, but the technical foundation is strengthening. XMR traded at approximately $188 Friday - a moderate 0.5% 24-hour gain.

Security incidents - no major new attacks, cumulative burden holds

No major new protocol attacks were reported in the past 48 hours. However, the cumulative 2026 theft total remains near record levels. Key incidents of the year:

• Verus-Ethereum bridge (May 18): approximately 5,402 ETH (~$10.9 million at Friday's ETH price) lost due to a validation flaw.
• Kelp DAO (April 19): $292 million - the largest 2026 DeFi attack.
• Drift Protocol (April 1): $285 million in losses.
• Echo Protocol (May 18): minting of 1,000 synthetic Bitcoin tokens on Monad, approximately $73 million in losses (at Friday's BTC price).
• 2026 total DeFi theft: approximately $1.1-1.3 billion across various estimates, with bridges representing roughly 25-30%.

Bridges remain the key vulnerability in DeFi infrastructure.

Regulatory news - FHFA orders Fannie Mae and Freddie Mac on crypto mortgages, GENIUS Act approaches

The headline May 29 regulatory event - FHFA (Federal Housing Finance Agency) director William Pulte officially ordered Fannie Mae and Freddie Mac to prepare business processes for accepting cryptocurrency as a recognized asset in mortgage risk assessment. The directive stipulates that homebuyers' cryptocurrency holdings on US-regulated centralized exchanges (such as Coinbase) will count toward mortgage qualification without requiring conversion to dollars. It extends the March-announced Better Home & Finance and Coinbase first crypto-backed mortgage product to the broader market.

This is a meaningful structural pivot - it brings cryptocurrency closer to mainstream finance and provides serious fundamental support for BTC and ETH as store-of-value assets.

The CLARITY Act awaits a full Senate vote after the May 14 15-9 bipartisan Banking Committee vote. The bill splits digital assets into three categories: digital commodities (CFTC oversight), investment contracts (SEC oversight) and permitted payment stablecoins (banking regulators per the GENIUS Act). Initial forecasts point to a Senate vote in late June or July.

GENIUS Act stablecoin rules take effect on July 18. OCC, FDIC, and FinCEN have published implementing guidance covering the 100% reserve requirement, regular audits, and a sanctions-enforcement mechanism for all dollar-stablecoin issuers.

On May 29, CME Globex was already operating in 24/7 crypto futures and options mode. The first operational week points to increased activity during nights and weekends - a positive long-term institutional-integration signal.

The May 27 US Treasury announcement of a $344 million freeze on Iran-linked crypto funds remains in force. With a 60-day ceasefire MoU on the horizon, the sanctions regime could nonetheless soften in the coming weeks.

Macroeconomic context - US-Iran peace approaches, Brent -19% on the month, options expiry

The main May 29 macro event is progress in US-Iran ceasefire talks. The MoU draft envisages a 60-day ceasefire extension, Iran opening the Strait of Hormuz, and a gradual US naval blockade pullback in the region. Trump has been briefed on the terms but has not formally approved them. It is a meaningful de-escalation signal after Thursday's strike exchange.

The oil market reacted strongly: Brent crude fell to $92.56 per barrel (-1.2% Friday, -19% in May). WTI traded $88-89. Over the month, the oil market has fallen from the $113-per-barrel peak in April to the current $88-92. It directly reduces global inflation pressure and restores part of the Fed's policy flexibility.

The second macro theme is the month-end Bitcoin and Ethereum options expiry. Total notional was approximately $7.5 billion: BTC options ~$4.3 billion with Max Pain at $74,500, ETH options ~$3.2 billion with Max Pain at $2,100. It created short-term upward pressure on spot at expiry.

A third theme is the high US and Japan sovereign-bond yields, which still offer an attractive risk-free alternative. The US 30-year yield stays above 5.10% - moderately below Thursday's 5.15%, reflecting ceasefire optimism.

The asset-class rotation dynamic continues: crypto is underperforming gold (above $3,400 per ounce), the S&P 500, and fixed income this year. However, Friday's relative stability signals a possible short-term consolidation. The Crypto Fear & Greed Index recovered to roughly 28-30 (Fear) - a moderate improvement from Thursday's Extreme Fear.

Key numbers - May 29

Top 15 coins

• ▼ BTC $73,105.71 · -0.5% 24h · -5% week · -25% YTD · low $72,582
• ▼ ETH ~$2,015 · -1.2% 24h
• ◆ USDT $0.9999 · stable · $189B supply
• ▲ XRP $1.32 · +3.1% 24h (reclaimed $1.30 support)
• ◆ USDC $1.00 · stable · $76B supply
• ▼ BNB ~$605 · -1.5% 24h
• ▼ SOL $81.50 · -1.5% 24h ($80.89-$82.59 range)
• ▲ DOGE $0.10 · +1.3% 24h
• ▼ TRX $0.358 · -0.8% 24h
• ▼ ADA $0.234 · -0.4% 24h
• ▲ HYPE $45.39 · +8.36% 24h (Friday standout)
• ▼ SUI $1.06 · -0.9% 24h
• ▼ LINK $8.52 · -0.4% 24h
• ▼ AVAX $8.38 · -0.5% 24h
• ▼ DOT $1.23 · -0.8% 24h

Legend: ▼ down · ▲ up · ◆ stable

BTC extra context

• BTC open on May 29: $73,525.74
• BTC intraday low: $72,582
• BTC close: approximately $73,600

Market metrics

• ◆ Total market: ~$2.62 trillion · +1% 24h (stabilization)
• ▲ BTC dominance: ~58-60% (moderately up)
• ◆ Stablecoin segment: $320-323 billion (USDT - $189B, USDC - $76B)
• 24-hour total liquidations: ~$280-320 million (more moderate)

ETF flows

• ▼ US spot BTC ETF outflows (May 29): $223-228 million - 9th straight day
• ▼ BlackRock IBIT outflow (May 29): approximately $95-110 million
• IBIT AUM: approximately $58 billion (~4% of total BTC supply)
• US spot BTC ETF outflows across the streak (9 days): ~$2.85 billion
• US spot BTC ETF outflows since May 14: over $2 billion
• Hyperliquid ETFs: 9th straight inflow day
• Spot ETH ETF outflows: approximately $4.2 million
• CoinShares weekly digital-asset products: +$857.9M inflows

Market context

• Crypto Fear & Greed Index: approximately 28-30 (Fear) - improvement from Extreme Fear
• CryptoPunks floor: $62,771 (~30.7 ETH)
• CryptoPunks 24h volume: 55 ETH
• NFT market volume MoM: -54.89%
• Month-end options expiry: ~$7.5 billion (BTC ~$4.3B, ETH ~$3.2B)
• BTC options Max Pain: ~$74,500
• ETH options Max Pain: ~$2,100
• Brent crude: $92.56/barrel (-1.2% 24h, -19% May)
• WTI crude: approximately $88-89/barrel
• US 30-year yield: above 5.10%
• US-Iran 60-day ceasefire MoU: nearly agreed (pending Trump sign-off)
• Altcoin Season Index: below 39 (Bitcoin Season)
• 2026 DeFi theft: $1.1-1.3 billion
• FHFA directive to Fannie Mae/Freddie Mac on crypto mortgages: announced

This is Norriwire's daily global crypto market review. All price and flow data is verified against Yahoo Finance, Fortune, Phemex, IndexBox, The Block, crypto.news, Benzinga, CoinDesk, CoinMarketCap, CoinGecko, Coingape, CoinShares, FXStreet and Bloomberg publications. Model: claude-opus-4-7. Author and reviewer: Toms Ābeltiņš.

Sources

• Yahoo Finance - Bitcoin Ethereum May 29 2026
• Fortune - Bitcoin May 29 2026
• Phemex - BTC Price Today May 29 2026
• Yahoo Finance - Crypto News May 29 BTC Monthly Close
• IndexBox - Bitcoin Breaks Support May 29 2026
• crypto.news - Crypto prices stabilize Iran US 60-day ceasefire